In This Review

How Japan's Economy Grew So Fast: The Sources of Postwar Expansion
How Japan's Economy Grew So Fast: The Sources of Postwar Expansion
By Edward F. Denison and William K. Chung
Brookings, 1976, 267 pp
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Increases in capital and labor, reallocation of labor from agriculture, improved technology and economies of scale were the growth factors. Can Japan's growth rate be sustained? The authors stress the probability of a slowdown as various ways of "catching up" become exhausted, but they think a fairly high rate of growth is still likely for the rest of this century.